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Diamonds are emerging as a robust alternative investment asset class, says Fusion Alternatives…
Last week the world’s third-largest mining company, Rio Tinto announced it was considering selling its diamond assets. This comes on the back of a similar announcement made last November by the world’s largest mining company, BHP Billiton. These two announcements essentially place a quarter of the world’s diamond supply on the block for sale.
The intention to sell its diamond assets by these two mining conglomerates is more driven by their attempt to streamline their assets by investing in large long-life mine assets as opposed to
Kinetic Partners, a global professional services firm to the asset management, investment banking and brokerage community, has promoted Jonathan Saxton to a member of the firm’s growing consulting and regulatory compliance practice.
Saxton has worked with a wide range of investment management clients both in the US and the UK, providing assistance over a large variety of global governance and regulatory topics. He has also undertaken several confidential assignments for various regulatory bodies. With a thorough knowledge of both FSA and SEC requirements, the main service offerings in his practice involve global periodic reviews of systems and controls, project management
Tele Norte Leste Participacoes is to be removed from the Dow Jones BRIC 50 DR Index and replaced by Banco Santander Brasil SA ADS.
The company is also being removed from the Dow Jones Emerging Markets Telecommunications Titans 30 Index to be replaced by Total Access Communication Public Company Limited; the Dow Jones Emerging Markets Sector Titans Composite 100 Index to be replaced by Telefonica Brasil S.A. ADS; and the Dow Jones Brazil Titans 20 ADR Index to be replaced by CPFL Energia S.A. ADS.
All changes will be effective before the open of trading on 9 April, 2012.
Standard Life Investments, the Global Fund Manager, has registered its SICAV range of funds in Switzerland.
This allows Swiss investors to access the GARS SICAV (Global Absolute Returns Strategies), European Corporate Bond SICAV, Global Inflation-Linked Bond SICAV, Global High Yield Bond SICAV and other Standard Life Investments funds.
The new registration widens the Standard Life Investments distribution footprint in the European institutional and wholesale markets, and allows Swiss investors to benefit from its award-winning GARS fund.
Royal Bank of Canada is to acquire the 50 per cent stake that it does not already own of the joint venture RBC Dexia Investor Services Limited (RBC Dexia) from Banque Internationale à Luxembourg SA (BIL) (formerly Dexia Banque Internationale à Luxembourg SA) for a total consideration of EUR837.5 million (CAD1.1 billion) in cash. Following the closing of the transaction RBC will own 100 per cent of RBC Dexia.
RBC Dexia is a top 10 global custodian that serves a diverse base of institutional investors through a wide range of advice and services including global custody, fund and pension administration,
Tim Joeng has joined independent wealth management firm Gresham Partners adding deep experience in the area of alternative and private equity investments.
As a Principal and senior member of the investment team, Joeng is responsible for sourcing investment opportunities, performing manager due diligence and building portfolios for Gresham’s clients. Joeng reports directly to President and Chief Investment Officer Ted Neild (pictured) and is a key member of Gresham’s investment committee.
“Very few wealth advisory firms have a real, deep commitment to investing in non-marketable strategies,” says Neild. “It’s complicated, and many of their clients don’t have the personal financial security
Florida-based multi-strategy alternative investment manager, Stonehenge Asset Management, LLC is to launch its third multi-strategy hedge fund, Stonehenge Diversified III, on 1 May 1, 2012. The new fund will be domiciled in the US and has appointed NAV Consulting Inc, as administrator.
Stonehenge Founder, Principal & Chief Investment Officer Steven A Michael (pictured) says that the new fund is an extension of the firm’s Stonehenge Diversified I hedge fund, although Stonehenge Diversified III may accept non Qualified Eligible Person (QEP) investors in the future. As a multi-strategy hedge fund, Stonehenge Diversified III will trade on a short term approach to
Royal Bank of Canada has “vigorously rejected” the Commodity Futures Trading Commission’s (CFTC) allegations that the bank was involved with a “multi-hundred million dollar wash sale scheme”.
On Monday this week The US CFTC announced the filing of a complaint in federal district court in New York charging Royal Bank of Canada (RBC), the Canadian bank and financial services firm doing business in New York, with conducting a multi-hundred million dollar wash sale scheme in connection with exchange-traded stock futures contracts.
The CFTC’s complaint also alleges that RBC willfully concealed, and made false statements concerning, material aspects of its
Markit has acquired Data Explorers, a provider of global securities lending data, from mid-market private equity firm Bowmark Capital.
Data Explorers’ data set, which covers USD12 trillion of securities in the lending programmes of over 20,000 institutional funds, provides a comprehensive view of short interest data and institutional fund activity across all market sectors. It is used by beneficial owners, custodians, agent lenders, prime brokers and asset managers to help inform investment decisions, manage risk and produce independent benchmarks.
This acquisition comes as the new regulatory environment is changing the dynamics of the securities financing markets. By combining Data
In March 2012, the international derivatives exchanges of Eurex Group recorded an average daily volume of 10.1 million contracts (March 2011: 11.8 million). Of those, 7.4 million were Eurex Exchange contracts (March 2011: 8.7 million), and 2.7 million contracts (March 2011: 3.1 million) were traded at the US-based International Securities Exchange (ISE). In total, 163.1 million contracts were traded at Eurex Exchange and 58.9 million at the ISE.
In its largest segment – equity index derivatives – Eurex Exchange achieved 79.7 million contracts (March 2011: 97.2 million), of these 42.8 million were index futures and 36.9 million were index options.
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